Wealth management advisory firm WE Family Offices has passed the USD2bn mark in assets under management just six months after its formation as an independent operation.
The firm, operating since 2000 through predecessor companies, became independent in January 2013 when Maria Elena Lagomasino (pictured), Santiago Ulloa and Michael Zeuner came together to form the executive leadership team.
“We founded WE Family Offices because we believe in independent advice uncoloured by an interest in sales-based fees and commissions,” says Lagomasino. “We believe families have a right to expect their financial adviser to be focused solely on their best interests at all times. We believe in serving client families the way that benefits them the most. And we believe that, at this point in time, that kind of adviser is hard for clients to find.”
The firm, with offices in New York and Miami, currently serves more than 60 clients from the US and other countries.
“WE stands for Wealth Enterprise – family members managing their wealth as they would a business. A successful business has a mission statement, financial statements, a clear decision-making framework, reporting capabilities… why shouldn’t a family operate their wealth in the same way?” says Ulloa.
“We believe clients should stay in control – always engaged, making critical decisions around their wealth,” says Zeuner. “We respect the service provider relationships clients have, but as an independent adviser, we try to make sure clients know what they need to know to keep their costs down and make sure the providers are focused on the client’s best interests.”